UiPath and Deloitte Collaborate to Introduce Turnkey Automation Offering for Growth Companies

Rhea-AI Summary

UiPath (PATH) and Deloitte deepen their strategic alliance with the launch of Smart Finance for Growth Companies, enhancing automation capabilities for finance teams.

Insights

Market Research Analyst

The expansion of the strategic alliance between UiPath and Deloitte to launch Deloitte's Smart Finance for Growth Companies represents a strategic move that could potentially influence the market position of both entities. By targeting growth companies, UiPath is tapping into a segment that is likely to be more agile and open to adopting new technologies, which could amplify the adoption rate of their automation solutions. This move aligns with the broader industry trend towards digital transformation and the increasing importance of automation in enhancing productivity and operational efficiency.

From a market perspective, this collaboration could result in increased revenue streams for UiPath, as well as an enhanced customer base. Deloitte's endorsement and the provision of a managed service offering could serve as a strong validation of UiPath's platform, potentially leading to a positive market perception and an uptick in investor confidence. It's essential to monitor how this alliance will affect UiPath's market share and financial performance in subsequent quarters, considering the competitive landscape of enterprise automation software.

Financial Analyst

The announcement of this enhanced strategic alliance could have implications for UiPath's financials, particularly in terms of revenue growth and margin expansion. By collaborating with Deloitte, UiPath leverages Deloitte's vast network and credibility, which could accelerate the sales cycle and reduce customer acquisition costs. The focus on managed services is also indicative of a potential shift towards recurring revenue models, which are favored by investors for their predictability and potential to scale.

Furthermore, the partnership could lead to cost synergies and increased operational leverage. However, investors should be aware of the upfront investments and the time required to fully realize these financial benefits. It will be crucial to analyze UiPath's future earnings calls and financial statements for evidence of the partnership's impact on the bottom line and to assess whether the company's strategic moves are translating into tangible financial outcomes.

Technology Industry Analyst

UiPath's alliance with Deloitte and the launch of the Smart Finance for Growth Companies service offering is a reflection of the evolving enterprise automation landscape. Intelligent automation is becoming a critical component for finance teams, particularly in growth companies that must scale operations efficiently. The ability to quickly establish or enhance an automation program could be a significant competitive differentiator for UiPath.

It's important to evaluate the technical capabilities and integration potential of UiPath's platform, as well as the innovation scale that the co-innovation market collaboration with Deloitte might bring. The effectiveness of this offering in improving finance operations will be a key factor in its adoption. As the enterprise automation market continues to grow, the success of such partnerships and offerings will likely be a bellwether for industry trends and the future direction of automation technology.

NEW YORK, Feb. 15, 2024 /PRNewswire/ -- UiPath (NYSE: PATH), a leading enterprise automation software company, and Deloitte today announced a further expansion of their strategic alliance with the launch of Deloitte's Smart Finance for Growth Companies. Customized for growth company finance teams, this managed service offering allows companies to quickly establish or scale their automation program and leverage the power of intelligent automation to advance their capabilities and productivity. This offering builds upon the recent announcement by Deloitte of the creation of a first-of-its-kind co-innovation market collaboration between UiPath and Deloitte.

UiPath and Deloitte allied to create this offering, which leverages automations previously built by UiPath and redesigned by Deloitte into value-driven automation packages tailored for the needs of growth companies. "We are excited to help growth companies that are ready to embark on their automation journey establish an intelligent automation program for their organization. By leveraging UiPath's leading AI-powered automation software and Deloitte's deep experience with growth companies, we can deploy a turnkey intelligent automation program for growth companies," said Alex Jackson, Partner, Deloitte & Touche LLP.

"Our methodology is designed to accelerate the time to value from automation given the challenges faced by executives tasked with building a modern finance function in an efficient way while aligning to their company's growth plan," said Jackie Artz, Partner, Deloitte & Touche LLP.

Finance executives at growth companies recognize that AI-powered automation can help them modernize processes and provide the bandwidth to deliver more decision-useful information to their organizations. AI-powered Document Understanding solutions from UiPath can automate extraction of data from structured and unstructured documents, eliminating time-consuming and error-prone manual processing, while other intelligent automation solutions from UiPath can be applied to finance processes like vendor management, invoice processing, and cash application. Deloitte's turnkey automation program can allow growth companies to unlock these benefits, where a lack of bandwidth or experience may otherwise make it challenging to establish and run an intelligent automation program.

"Growth companies want to avoid creating complex business processes that are difficult to scale, and they want to reduce time spent on manual, resource-intensive tasks," said Kelly Ducourty, Chief Customer Officer at UiPath. "This offering from Deloitte, which is powered by UiPath, the leading business automation platform, will help growth companies scale to greater effectiveness by being able to quickly take advantage of AI-powered automation, first within the finance function, and then across their business."

About UiPath
UiPath (NYSE: PATH) is on a mission to uplevel knowledge work so more people can work more creatively, collaboratively, and strategically. The AI-powered UiPath Business Automation Platform combines the leading robotic process automation (RPA) solution with a full suite of capabilities to understand, automate, and operate end-to-end processes, offering unprecedented time-to-value. For organizations that need to evolve to survive and thrive through increasingly changing times, UiPath is The Foundation of Innovation™.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 457,000 people worldwide connect for impact at www.deloitte.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

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SOURCE Deloitte LLP

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is UiPath with the ticker symbol PATH.

What is the new offering launched by UiPath and Deloitte?

The new offering launched is Deloitte's Smart Finance for Growth Companies, aimed at growth company finance teams.

Who can benefit from the managed service offering?

Companies looking to establish or scale their automation program can benefit from this managed service offering.

What is the goal of the collaboration between UiPath and Deloitte?

The collaboration aims to advance capabilities and productivity through the power of intelligent automation.